Crisp manufacturer KP Snacks has released its results for the period 1st January 2023 to 30th December 2023, reporting revenue growth of 14.8%.
The manufacturer achieved turnover of £626.7 million in 2023, up 14.8% from its 2022 rate of £546 million. KP said this growth was supported by “lapping the KP cyber-attack in 2022”, which it said had a “significant impact” on business in 2022.
It said it had achieved a gross profit margin of 47.7%, up from the 2022 rate of 46%, which KP attributed to a result of “mix management with brands growing ahead of own label… cost savings from investments in sites and brands, manufacturing efficiencies and hedging strategies delaying some inflationary pressures”.
KP Snacks reported an operating profit of £97.3 million, an increase from its 2022 operating profit of £68.8 million.
In the report, the directors said that KP Snacks’ “commitment to reducing carbon emissions from its sites and operations, supported by ambitious targets for energy reduction, were achieved primarily through savings in energy use and seeking out future technology opportunities”.
